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Eclipse Boosts Budget 17% to $196MM; One Rig Program for 2017
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Eclipse Resources Corporation announced its second quarter 2016 financial results and provided an operational update and amended guidance.
Key Points: Increased budget to $196 million (up from $168 million) Growth in 2017, which Eclipse expects to average at least 300 MMcfe per day, or over 30% growth above the higher 2016 full year production guidance, while assuming drilling with only one rig throughout the year. GuidanceThe Company issued the following third quarter and amended full year 2016 guidance in the table below:
Second Quarter 2016 Highlights: Net loss for the second quarter of 2016 was $73.0 million; Adjusted EBITDAX1 for the second quarter of 2016 was $17.1 million. The Company’s production sales volumes for the quarter were 212.1 MMcfe per day, exceeding the…- ✓ Full news archive — U.S., Canada & international coverage
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